Original reporting and analysis on the stories shaping biotech.
A new $100M firm wants to factory-build biotech companies around single drugs, with a CRO embedded from day one. It's either the future of drug development or the most expensive org chart ever created.
Hemab and Seaport Therapeutics raised a combined $556 million in back-to-back IPOs, both upsized due to overwhelming demand. After 2025's historic drought of just eight biotech debuts, the dual listing signals that Wall Street's appetite for biotech risk is very much alive.
Roche is spending up to $1.05 billion to acquire PathAI, an AI company that reads pathology slides. It's the clearest sign yet that Big Pharma views AI diagnostics as must-have infrastructure for the future of cancer treatment.
The FDA just gave itself three extra months to review Leqembi's subcutaneous starting dose, a move that almost never happens for reformulations of already-approved drugs. Something in the manufacturing data caught their eye, and nobody's saying what.
enGene's bladder cancer drug posted decent clinical data. But "decent" doesn't cut it when your competitors are posting 60% response rates. The stock lost 80% in a day, and Wall Street's reaction tells you everything about what happens when small biotechs bring a knife to big pharma's gunfight.
Researchers delivered a protective gene to mouse livers and watched amyloid plaques shrink in their brains. No blood-brain barrier crossing required. This peripheral approach could rewrite the Alzheimer's treatment playbook.
The White House just approved plans to oust FDA Commissioner Marty Makary after only 14 months on the job, marking the third leadership change at the agency in three years. For biotech investors and companies waiting on drug approvals, the turbulence is just getting started.
Roche is dropping over $1 billion to acquire PathAI, betting that artificial intelligence can transform how cancer gets diagnosed. It's the biggest validation yet that AI-powered pathology is ready for prime time.
Blackstone Life Sciences just dropped $250 million on a company that wants to replace 40 daily enzyme pills with three. For cystic fibrosis patients drowning in capsules, this might be the most practical bet in biotech right now.
Ascendis Pharma just killed an IL-2 cancer drug that was actually showing promise in ovarian cancer patients. The reason? They'd rather sell hormone therapies. It's the latest chapter in IL-2's long history of breaking biotech hearts.
Odyssey Therapeutics failed to IPO in 2025 when biotech markets froze. This week, the company raised $304 million in an upsized offering at the top of its price range. The resurrection says as much about investor appetite as it does about the company.
A 107-year-old Italian pharma just dropped $4.1 billion on a Florida rare disease company. Angelini's acquisition of Catalyst Pharmaceuticals is its biggest bet ever, and it comes with a patent settlement that locks out generics until 2035.
Five biotech acquisitions in a single week totaling over $7.6 billion, capped by Chiesi's $1.9 billion grab of oral HAE therapy maker KalVista. The M&A wave signals something bigger about where big pharma's money is headed.
Ipsen paid $952 million for Albireo Pharma in 2023, then quietly shelved two of the pipeline candidates that came with the deal. The crown jewel is thriving, but the extras just hit the trash — and it's a pattern pharma keeps repeating.
Sanofi asked the FDA to pull its diabetes drug from the agency's brand-new fast-track review program after a political appointee allegedly overruled career scientists. The move raises uncomfortable questions about who's really making drug approval decisions.
Tempero Bio raised $70 million and had a genuinely novel approach to treating addiction. Then one serious adverse event in its Phase 2 trial brought the entire company down overnight. The silence around what went wrong might be the most troubling part.
Avalo Therapeutics just posted Phase 2 results in hidradenitis suppurativa that beat AbbVie's own candidate on absolute efficacy, sent shares soaring 45%, and raised $375 million overnight. Now the real question: who's going to buy them?
The FDA rejected a rare cancer cell therapy in January despite its own reviewers recommending approval. Three months later, with no new data, the agency says it will reconsider. What changed, and what does it mean for the future of rare disease drug approvals?
UCB just paid $2.2 billion for Candid Therapeutics, a biotech that launched from stealth barely 18 months ago. The deal reveals big pharma's frenzied bet that T-cell engagers could become the new standard of care for autoimmune diseases.
The FDA is letting Amgen and AstraZeneca stream clinical trial data to regulators in real time, ditching the decades-old "run the study, then submit everything" model. If it works, drug development timelines could compress by months, and the entire industry will want in.
A bipartisan bill would ban all nonhuman primate imports into the U.S., threatening the supply chain for preclinical drug testing. With 20,000+ monkeys imported annually for research, the legislation could force an industry-wide scramble toward alternative testing methods.
A London startup just raised $83 million to weaponize your body's most overlooked immune cells against cancer. Cytospire's "pan-gamma delta" approach bets that the quiet, tissue-dwelling T cells nobody talks about might outperform the famous ones that power today's immunotherapies.
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